US consumer prices report first fall in more than a year

US consumer prices report first fall in more than a year

U.S. producer prices unexpectedly reported the first drop in more than a year in March, a report from the Labor Department released on Friday showed. 

The consumer prices index (CPI) showed 0.3 percent fall last month, marking the first monthly slide since February 2016, after a 0.1 percent surge in February. Analysts had called for no change.  

Core CPI recorded a 0.1 percent plunge, compared to both prior and expected readings of 0.2 rise.  

Another report from the U.S. signaled a 0.2 percent drop in retail sales in March, following a revised 0.3 percent plummet in February.

Core retail sales posted no change, while analysts had predicted a 0.2 percent increase.

As of 12:58 GMT, the dollar rose for the first time in four sessions versus a basket of major currencies, as it traded at 100.48, according to the dollar index.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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